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CAROLINA FIRST BANK ANNOUNCES SIGNING OF LEASE FOR REGIONAL HEADQUARTERS LOCATION IN COLUMBIA

 GREENVILLE, S.C., Feb. 1 /PRNewswire/ -- At a press conference today, officials of Carolina First Bank announced the signing of a lease on a location in downtown Columbia. The building located on the northwest corner of the intersection of Sumter and Lady Streets will, after renovation, house Carolina First's Columbia regional headquarters to include mortgage banking, investment division, administrative officers for the Midlands of South Carolina and a portion of the Bank's operations division. Renovation, which is expected to begin immediately and scheduled to be completed by the first of July, is expected to exceed $1,000,000.
 Mack I. Whittle, Jr., president and chief executive officer of Carolina First Corporation (NASDAQ-NMS: CAFC), said, "A community is only as a strong as its downtown, and we believe that local businesses have a responsibility to maintain a strong, vibrant downtown. In Greenville, our main office is located in the downtown area and our commitment to Columbia is to have a major presence not only in Midlands but in the downtown area. Because we are a local bank whose success depends on the success of the communities we serve, we believe in moving jobs into a community -- not taking them away. When complete and fully operational, this location will house over 100 employees."
 Carolina First announced in January that it had entered into agreements to purchase four branches in the Columbia area and plans to purchase eight branches in the Southeastern part of the state during the first quarter of 1993 which represents our first step into the Columbia market.
 Carolina First Corporation, established in October of 1986 and capitalized at approximately $45 million, is currently a $530 million asset financial institution holding company that offers a broad range of commercial and consumer financial services through its two subsidiaries, Carolina First Bank and Carolina First Savings Bank. Carolina First Bank is a state-chartered commercial bank that operates nine branches principally in northwestern South Carolina. Carolina First Savings Bank, headquartered in Georgetown, S.C., is a federally-chartered savings bank with eight branches in coastal South Carolina.
 Carolina First's common stock is traded in the NASDAQ National Market System under the trading symbol CAFC; its preferred stock is traded over-the-counter under the symbol CAFCP. Market makers include J.C. Bradford & Co., Interstate/Johnson Lane, The Robinson-Humphrey Company, Inc. and Wheat First Butcher and Singer.
 -0- 2/1/93
 /CONTACT: William S. Hummers, III of Carolina First Corporation, 803-255-7913/
 (CAFC)


CO: Carolina First Corporation ST: South Carolina IN: FIN SU:

MM -- CH013 -- 6659 02/01/93 16:41 EST
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Publication:PR Newswire
Date:Feb 1, 1993
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